Our children’s nutrition is vital to their health and development, both in school and in sports. Teach your kids about healthy choices today to establish healthy habits for tomorrow. Set a good example by involving them in meal planning, introducing them to cooking and portion control and getting active!

If you’re pregnant you have probably heard the phrase eating for two. It’s true that a pregnant woman's calorie intake grows during pregnancy, but simply doubling your calorie intake is not the solution for you or your baby.

About Us

Founded in Hawaii in 1851, Dole Food Company, Inc., with 2010 revenues of $6.9 billion, is the world's largest producer and marketer of high-quality fresh fruit and fresh vegetables. Dole markets a growing line of packaged and frozen foods, and is a produce industry leader in nutrition education and research. The Company does business in more than 90 countries and employs, on average, 36,000 full-time, regular employees and 23,000 full-time seasonal or temporary employees, worldwide.

Dole Food Company, Inc. (NYSE: DOL) Wednesday announced that its fourth-quarter results from ongoing operations were a net loss of $7.4 million, or 13 cents per share, compared with net income of $2.1 million, or 4 cents per share, for the fourth quarter of 1999. The previously announced estimate of fourth-quarter results from ongoing operations was a range of 4 cents per share loss to 14 cents per share loss.

Full year 2000 net income from ongoing operations of $72.9 million, or $1.30 per share, reflects a 9% improvement in earnings per share as compared to full year 1999 net income from ongoing operations of $67.9 million, or $1.19 per share.

The year-over-year decrease in fourth-quarter results was mainly caused by the weak foreign exchange rate between the euro and U.S. dollar, the Japanese yen and the U.S. dollar, high prices for fuel oil, and competitive pricing pressures, which continued to impact the company unfavorably, particularly in its banana business. These negative impacts largely offset year-over-year cost savings in the company's banana business during the quarter. The company's other businesses continue to meet or exceed internal expectations.

Revenue for the fourth quarter of 2000 totaled $1.06 billion compared with revenue of $1.08 billion for the same quarter of last year. These amounts reflect reclassifications of $45.3 million and $62.5 million for the fourth quarters of 2000 and 1999, respectively, to present revenues in accordance with the interpretations of Securities and Exchange Commission (SEC) Staff Accounting Bulletin No. 101 (SAB 101). The change in presentation had no impact on earnings for any of the periods presented. Cash flow from ongoing operations (EBITDA) in the fourth quarter of 2000 totaled $42.5 million compared with $55.7 million for the same quarter of 1999.

Interest expense decreased slightly to $21.2 million for the fourth quarter of 2000 from $21.8 million for the fourth quarter of 1999 mainly due to lower average debt levels.

On a full year basis, revenue for 2000 decreased slightly to $4.76 billion from $4.79 billion for 1999. These amounts reflect reclassifications of $239 million and $266 million for 2000 and 1999, respectively, to present revenues in accordance with the interpretations of SAB 101. Cash flow from ongoing operations (EBITDA) in 2000 totaled $328.8 million compared with $307.6 million for 1999.

Full year net income including Hurricane Mitch net insurance proceeds, business downsizing charges and the gain on sale of citrus assets was $67.7 million for 2000 versus $48.5 million for 1999. Fourth quarter net loss including Hurricane Mitch net insurance proceeds, business downsizing charges and the additional gain recognized from the sale of citrus assets was $6.5 million in 2000 and $28.5 million in 1999.

Click here to download 2000 fourth-quarter and full year earnings in Adobe Acrobat (*.pdf) format.

Looking forward to 2001, management anticipates that full year earnings per share should continue to improve. While banana pricing is not expected to change significantly in 2001, significant cost-cutting measures should increase profits from that business. In Dole's processed foods business, volume growth from new product introductions in 2000 is anticipated to result in improved earnings. Dole's fresh-cut salads business is projected to continue its growth in profitability in 2001, but overall earnings in the Fresh Vegetables segment are anticipated to be lower than 2000 based on expectations of a return to more normal commodity pricing. Dole's beverage business is expected to continue its profitable growth and should be mostly recovered from the effects of Hurricane Mitch. In Dole's fresh-cut flowers operation, further improvement is expected from cost reduction initiatives and continuing consolidation efforts.

David A. DeLorenzo, president and chief operating officer, stated: "While we are disappointed with the results in our banana business during this quarter, we are satisfied with the progress made within our other businesses. Further, we are encouraged by the fact that during the third quarter of 2000, we embarked on a program of additional cost cutting initiatives in the banana business that we expect will have a significant, positive impact on our results beginning in 2001."

Dole Food Company, Inc., with 2000 revenues of $4.8 billion, is the world's largest producer and marketer of high-quality fresh fruit, fresh vegetables and fresh-cut flowers, and markets a growing line of packaged foods.

The company will host an earnings conference call today at 1 p.m. (EST), featuring remarks by David A. DeLorenzo, president and chief operating officer, and Kenneth J. Kay, vice president and chief financial officer. The conference call will be Webcast and available online at www.dole.com and at www.streetfusion.com in the "Earnings Events" section.

This release contains forward-looking statements that involve a number of risks and uncertainties. Forward looking statements, which are based on management's current expectations, are generally identifiable by the use of terms such as "shall," "expects," "anticipates," "projects" and similar expressions. The potential risks and uncertainties that could cause actual results to differ materially from those expressed or implied herein include weather-related phenomena; market responses to industry volume pressures; product and raw materials supplies and pricing; changes in interest and currency exchange rates; economic crises in developing countries; and quotas, tariffs and other governmental actions. Further information on the factors that could affect Dole's financial results is included in its SEC filings, including its Annual Report on Form 10-K.

Responsibility

Dole Food Company, Inc. and Dole Packaged Foods believe that in order to perpetuate sustainability it is of the utmost importance to treat our people, resources, environment and community as our most precious assets. In order to protect its greatest assets, Dole has built its sustainability strategy on four pillars: water management, carbon footprint, soil conservation and packaging.

About the DNI

The Dole Nutrition Institute (DNI) was founded by David H. Murdock in 2003 as a research and education foundation within Dole Food Company. Now in his 90's, Mr. Murdock is an ardent practitioner of a nutrient-dense, plant-based diet and a true believer in the power of a variety of fruits and vegetables to promote health and longevity. The DNI is comprised of scientists who conduct cutting-edge, nutrition-based research at the North Carolina Research Campus in Kannapolis, North Carolina. From Dole's corporate offices in Westlake Village, CA, a dedicated Nutrition and Health Communication specialist, who is also a Registered Dietitian, reports on the latest health-promoting findings to the public through various publications and media outlets. An Executive Admin provides support to both locations to complete the team which endeavors to fulfill the DNI's mission of "feeding the world with knowledge."

Premium Products, Dole Dedication

Dole Foodservice products have been satisfying the most discriminating patrons of restaurants and other foodservice operations for nearly a century. Our premium quality products are specially designed to meet the unique operational needs of foodservice operators. Dole backs its dedication to quality with comprehensive food safety programs, stringent quality control measures, and ongoing research and innovation.